CNBC: S&P 500 drops 7%, triggering NYSE ‘circuit breaker’ trading halt for 15 minutes
U.S. stocks fell sharply once again on Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The S&P 500 dropped 7% shortly after the open, triggering a 15-minute “circuit breaker,” which temporarily halts trading at the New York Stock Exchange. The broad index also joined the Dow Jones Industrial Average in bear market territory. The 30-stock Dow slid more than 1,600 points, or 7.%. The Nasdaq Composite dropped 7%.
Before the open, futures contracts tied to the major indexes fell to their so-called limit down thresholds, sliding 5%. These limit down levels act as a as a floor for selling until regular trading begins.
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WNU Editor: It is going to be a rough day. Investors are now realizing that this pandemic is going to get worse. A lot of people are going to get sick. And it is going to take a long time for the global economy to recover. It is also safe to assume that global GDP projections can now been thrown out of the window.
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